Good morning, Quartz readers!
What to watch for today
South Koreans elect a new president. In the wake of Park Geun-hye’s impeachment, voters are most concerned about corruption and rebooting the economy. Frontrunner Moon Jae-in opposes the deployment of a US anti-missile system designed to thwart North Korean attacks.
Walt Disney updates investors about its troubled TV business. Shareholders want to know if the media giant has found a way to slow subscriber declines at ESPN, and how low-price “slim” internet TV bundles are performing. Other companies reporting earnings include News Corp, SeaWorld, and Softbank.
Australia spends big bucks on infrastructure. A major boost in spending is expected in the new federal budget, including a second international airport in Sydney and a $2.3 billion road and rail package.
While you were sleeping
A former Justice Department official testified about Trump-Russia intrigue. Sally Yates, who served as acting US attorney general, said she was concerned that Michael Flynn “could be blackmailed by the Russians.” Yates alerted the White House about the former national security adviser’s vulnerabilities several weeks before he was fired—and so did Barack Obama.
ChemChina and Sinochem are planning a merger. Bankers told the Financial Times that the creation of the world’s largest chemicals company group is designed to help ChemChina finance its recent $43 billion purchase of Sygenta, the Swiss agrochemicals company.
Coach bought Kate Spade for $2.4 billion. The American handbag maker acquired its smaller, quirkier competitor in an attempt to appeal to millennials, who comprise nearly 60% of Kate Spade’s customer base.
Facebook deleted tens of thousands of UK accounts to fight fake news. In advance of the June 8 general election, the tech giant also bought newspaper ads suggesting that readers be “skeptical of headlines” and “look closely at the URL.”
Quartz obsession interlude
Alison Griswold on the demise of a startup that dreamed of a better office lunch. “By overseeing everything from menu design to ingredient supply chains, co-founder and CEO Caleb Merkl believed Maple could create an ‘incredible’ dining experience that was also a sustainable business. The company raised $4 million in seed funding in late 2014. Backing from David Chang, the celebrity chef behind Momofuku, made it an instant food-tech darling, and Maple secured another $26 million early the next year.” Read more here.
Markets haiku
No cause for panic / Everything is fine. Really. / Just look at the VIX.
Matters of debate
Russia’s meddling in the French election backfired spectacularly. Of the four leading candidates for president, three were openly pro-Moscow.
Data, not oil, is the world’s most valuable resource. That means a new regulatory approach is needed for Alphabet, Amazon, Apple, Facebook, and Microsoft.
The global donut craze must be stopped. Exhibit A: The spaghetti donut.
Surprising discoveries
Venice is banning new fast-food shops. Kebabs and pizza-by-the-slice are out; only gelato is spared.
A Danish brewery is using urine to make a special-edition pilsner. Talk about taking the piss.
Parasitic robots can control turtles with snacks. They could be used for exploration or surveillance.
Penguins are flourishing in a Falkland Islands minefield. But the Magellanic penguins may lose their homes due to an anti-mine treaty signed by the UK.
A Chinese inventor took the cringe out of karaoke. His portable mic is perfect if you’re too embarrassed to sing in front of your friends.
Our best wishes for a productive day. Please send any news, comments, robo-turtles, and cringe-free karaoke to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android.